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Journal of Statistical and Mathematical Sciences

Peer-Reviewed Academic Journal
Research Article

N-COMPONENT PIECEWISE-LINEAR MODELS: ENHANCING ECONOMIC EVENT PREDICTION THROUGH SOFTWARE

Authors & Affiliations
Aliyev Azad
Doctor of Economical sciences (PhD), Assistant Professor
Published: January 7, 2025
Volume 12, Issue 4 (2024)
Article ID: 811
Peer-Reviewed
Open Access
Abstract

For the last 15 years in periodic literature there has appeared a series of scientific publications that has laid the foundation of a new scientific direction on creation of piecewise-linear economic-mathematical models at uncertainty conditions in finite dimensional vector space. Representation of economic processes in finite dimensional vector space, in particular in Euclidean space, at uncertainty conditions in the form of mathematical models in connected with complexity of complete account of such important issues as: spatial in homogeneity of occurring economic processes, incomplete macro, micro and social-political information; time changeability of multifactor economic indices, their duration and their change rate. The above-listed one in mathematical plan reduces the solution of the given problem to creation of very complicated economic mathematical models of nonlinear type. In this connection, it was established in these works that all possible economic processes considered with regard to uncertainty factor in finite-dimensional vector space should be explicitly determined in spatial-time aspect. Owing only to the stated principle of spatial-time certainty of economic process at uncertainty conditions in finite dimensional vector space it is possible to reveal systematically the dynamics and structure of the occurring process. In addition, imposing a series of softened additional conditions on the occurring economic process, it is possible to classify it in finite-dimensional vector space and also to suggest a new science-based method of multivariant prediction of economic process and its control in finite-dimensional vector space at uncertainty conditions, in particular, with regard to unaccounted factors influence.

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